Valneva Recruits IDT Biologika As Manufacturing Partner For Its COVID-19 Vaccine

Valneva SE (NASDAQ:VALN) and IDT Biologika have announced their collaboration to produce Valneva's inactivated COVID-19 vaccine candidate VLA2001. 

• It follows last week's announcement that Valneva signed an Advance Purchase Agreement with the European Commission to supply up to 60 million doses of VLA2001 over two years.
• Under the collaboration, IDT Biologika will produce VLA2001's drug substance at its facilities in Dessau-Roßlau, Germany, and Valneva's manufacturing site Livingston, Scotland.
• Valneva has continued to review its manufacturing strategy following discussions with the UK Government in the summer and again after the termination of the UK contract in September 2021. 
• Valneva plans to operate a combination of external and internal production of VLA2001 and will further review its manufacturing plans based on demand. 
• Delivery of the vaccine in Europe is currently expected to begin in April 2022, subject to approval by the European Medicines Agency, which will start a rolling review of VLA2001 shortly.
• Valneva reported positive Phase 3 results for VLA2001 in October.
• Price Action: VALN shares are up 12.30% at $66.92 during the market session on the last check Monday.